Cibc World Mkts upgraded shares of Morguard North American (TSE:MRG – Free Report) to a strong-buy rating in a report issued on Friday, Zacks.com reports.
Morguard North American Stock Performance
Morguard North American has a 12-month low of C$13.17 and a 12-month high of C$16.21.
Morguard North American Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.062 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.74 annualized dividend and a dividend yield of ∞.
About Morguard North American
Morguard North American Residential Real Estate Investment Trust (the Trust) is a real estate investment trust (REIT). The Trust’s investment objectives are to generate stable and growing cash distributions on a tax-efficient basis; enhance the value of the REIT’s assets and maximize long-term Unit value through active asset and property management, and expand the asset base of the REIT and increase adjusted funds from operations per Unit primarily through acquisitions and improvement of its properties through targeted deployed capital expenditures.
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